Ellandi has purchased the Strand Shopping Center located in Bottle at an undisclosed amount.The London-based company is the only dedicated asset and investment manager in the UK with a focus on community shopping centers.
The center offers retail space of 356700ft², office buildings, residential flats, a bus station and multi-storey parking for 580 cars.
The manager of the center, Rob Clarke, formerly a Debenhams store manager, said Ellandi’s proven track record in the management of community shopping centers brings with it the expertise to unlock the potential in the Strand Shopping Center. He said they have already identified important improvements. Ellandi is set to work hand-in-hand with the business community and Sefton Council to improve the town centre and the Strand. Short-term plans include updating the signage and the graphic identity of the center, along with attracting new retailers to fill the empty areas.
Additional plans include redecoration of the entrances and the area surrounding Stanley Street. There are also plans for a new anchor store within the shopping center.
The asset manager of Ellandi, Richard Hutchinson, said a long period of decline has made shoppers impatient for a change to take place at the center. He added that their track record of changing older community schemes into something which meets shoppers’ expectations and retailer requirements has made them keen to start the transformation.
Ellandi currently holds a portfolio of 12 schemes, with a value in excess of £325m.
24 OCTOBER 2014, United Kingdom